CCC Intelligent Solutions Holdings Inc. Announces Second Quarter 2025 Financial Results
'CCC delivered strong second quarter results, highlighted by 12% year-over-year revenue growth and adjusted EBITDA margin of 42%. Our solid results reflect our durable business model, operating efficiency, and ongoing investment in innovation that are helping our clients rapidly transform their businesses,' said Githesh Ramamurthy, Chairman & CEO of CCC.
'In the second quarter we had several of our larger customers who had been testing our newer solutions progress past the pilot phase into broader rollouts of our solutions across their businesses,' continued Ramamurthy. 'Historically, adoption by these leading customers has helped drive further adoption across the insurance economy, which underscores our confidence in our long-term growth opportunity.'
Second Quarter 2025 Financial Highlights
Revenue
Total revenue was $260.5 million for the second quarter of 2025, an increase of 12% from $232.6 million for the second quarter of 2024.
Profitability
GAAP gross profit was $194.0 million, representing a gross margin of 74%, for the second quarter of 2025, compared with $177.3 million, representing a gross margin of 76%, for the second quarter of 2024. Adjusted gross profit was $202.5 million, representing an adjusted gross profit margin of 78%, for the second quarter of 2025, compared with $182.1 million, representing an adjusted gross profit margin of 78%, for the second quarter of 2024.
GAAP operating income was $24.5 million for the second quarter of 2025, compared with GAAP operating income of $22.5 million for the second quarter of 2024. Adjusted operating income was $94.2 million for the second quarter of 2025, compared with adjusted operating income of $86.0 million for the second quarter of 2024.
GAAP net income was $13.0 million for the second quarter of 2025, compared with GAAP net income of $21.4 million for the second quarter of 2024. Adjusted net income was $58.9 million for the second quarter of 2025, compared with adjusted net income of $56.2 million for the second quarter of 2024.
Adjusted EBITDA was $108.1 million for the second quarter of 2025, compared with adjusted EBITDA of $95.8 million for the second quarter of 2024. Adjusted EBITDA grew 13% in the second quarter of 2025 compared with the second quarter of 2024.
Liquidity
CCC had $55.1 million in cash and cash equivalents and $996.0 million of total debt on June 30, 2025. The Company generated $43.1 million in cash from operating activities and had free cash flow of $27.4 million during the second quarter of 2025, compared with $51.8 million in cash generated from operating activities and $36.2 million in free cash flow for the second quarter of 2024.
2 nd Quarter and Recent Business Highlights
In Q2, several top-10 insurers (based on 2024 direct premium written) contracted for multiple CCC AI-enabled auto physical damage (APD) solutions that extend their use of CCC's photo-AI capabilities beyond estimating to include earlier stages of claim handling as well as later stages of audit review. In addition, another top-20 insurer contracted for our AI-enabled subrogation platform, which currently serves 25 CCC customers.
CCC continued to see solid momentum in its Casualty business during the second quarter of 2025, renewing and expanding its Casualty relationships with top-10 and top-20 insurers. In addition, the April 30 th announcement about the integration of EvolutionIQ's AI-powered medical record synthesis solution, Medhub, into CCC's casualty suite of solutions is generating positive engagement among our auto insurance customers.
CCC announced the appointment of Barak Eilam to its Board of Directors on July 14 th. Mr. Eilam is the former CEO of NICE Systems and has over 2 decades of experience in enterprise software, AI, and customer-engagement technologies. Mr. Eilam's proven ability to scale organizations and champion customer-centric innovation will be a strong addition to CCC's next phase of growth.
During the second quarter of 2025, CCC repurchased 11 million shares of its stock for approximately $100 million. Year to date, the company has repurchased 18 million shares of CCC stock for approximately $172 million under its current $300 million repurchase authorization.
Business Outlook
Based on information as of today, July 31, 2025, the Company is issuing the following financial guidance:
Conference Call Information
CCC will host a conference call today, July 31, 2025, at 5:00 p.m. (Eastern Time) to discuss the Company's financial results and financial guidance. A live webcast of this conference call will be available on the 'Investor Relations' page of the Company's website at https://ir.cccis.com, and a replay will be archived on the website as well.
About CCC Intelligent Solutions
CCC Intelligent Solutions Inc. (CCC), a subsidiary of CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS), is a leading SaaS platform provider for the multi-trillion-dollar insurance economy, creating intelligent experiences for insurers, repairers, automakers, part suppliers, and more. The CCC Intelligent Experience (IX) Cloud™ platform, powered by proven AI and an innovative event-based architecture, connects more than 35,000 businesses to power customized applications and platforms for optimal outcomes and personalized experiences that just work. Through purposeful innovation and the strength of its connections, CCC technologies empower the people and industry relied upon to keep lives moving forward when it matters most. Learn more about CCC at www.cccis.com.
Forward Looking Statements
This press release contains forward-looking statements that are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: 'may,' 'will,' 'could,' 'would,' 'should,' 'expect,' 'intend,' 'plan,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'project,' 'potential,' 'continue,' 'ongoing' or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Forward-looking statements in this press release include, but are not limited to, future events, goals, plans and projections regarding the Company's financial position, results of operations, market position, product development and business strategy. Such differences may be material. We cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward looking statements are subject to a number of risks and uncertainties, including, among others, our revenues, the concentration of our customers and the ability to retain our current customers; our ability to negotiate with our customers on favorable terms; our ability to maintain and grow our brand and reputation cost-effectively; the execution of our growth strategy; the impact of public health outbreaks, epidemics or pandemics on our business and results of operations; our projected financial information, growth rate and market opportunity; the health of our industry, claim volumes, and market conditions; changes in the insurance and automotive collision industries, including the adoption of new technologies; global economic conditions and geopolitical events, including the imposition of trade tariffs, supply chain disruption and inflationary; competition in our market and our ability to retain and grow market share; our ability to develop, introduce and market new enhanced versions of our solutions; our sales and implementation cycles; the ability of our research and development efforts to create significant new revenue streams; changes in applicable laws or regulations; changes in international economic, political, social and governmental conditions and policies, including corruption risks in China and other countries; our reliance on third-party data, technology and intellectual property; changes in our customers' or the public's perceptions regarding the use of artificial intelligence; our ability to protect our intellectual property; our ability to keep our data and information systems secure from data security breaches; our ability to acquire or invest in companies or pursue business partnerships; our ability to raise financing in the future and improve our capital structure; our success in retaining or recruiting, or changes required in, our officers, key employees or directors; our estimates regarding expenses, future revenue, capital requirements and needs for additional financing; our ability to expand or maintain our existing customer base; our ability to service our indebtedness; and other risks and uncertainties, including those included under the header 'Risk Factors' in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the Securities and Exchange Commission ('SEC'), which can be obtained, without charge, at the SEC's website (www.sec.gov), and in our other filings with the SEC. The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.
Non-GAAP Financial Measures
This press release includes certain financial measures not presented in accordance with generally accepted accounting principles in the U.S. ('GAAP'), including, but not limited to, 'adjusted EBITDA,' 'adjusted EBITDA margin,' 'adjusted net income,' 'adjusted operating income,' 'adjusted gross profit,' 'adjusted gross profit margin,' 'adjusted operating expenses,' and 'free cash flow' in each case presented on a non-GAAP basis, and certain ratios and other metrics derived therefrom. These non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing the Company's financial results. Therefore, these measures should not be considered in isolation or as an alternative to other measures of profitability, liquidity or performance under GAAP. You should be aware that the Company's calculation of these non-GAAP measures may not be comparable to similarly-titled measures used by other companies.
The Company believes these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to the Company's financial condition and results of operations. The Company believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company's financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. These non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. Please refer to the reconciliations of these measures below to what the Company believes are the most directly comparable measures evaluated in accordance with GAAP.
This press release also includes certain projections of non-GAAP financial measures. Due to the high variability and difficulty in making accurate forecasts and projections of some of the information excluded from these projected measures, together with some of the excluded information not being ascertainable or accessible, the Company is unable to quantify certain amounts that would be required to be included in the most directly comparable GAAP financial measures without unreasonable effort. Consequently, no disclosure of estimated comparable GAAP measures is included and no reconciliation of the forward-looking non-GAAP financial measures is included for these projections.
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES
(In thousands, except share and per share data)
(Unaudited)
For the Three Months Ended For the Six Months Ended
June 30, June 30,
2025
2024
2025
2024
REVENUES
$
260,451
$
232,618
$
512,016
$
459,855
COST OF REVENUES
Cost of revenues, exclusive of amortization of acquired technologies
62,067
53,231
124,271
106,038
Amortization of acquired technologies
4,368
2,090
8,737
8,657
Total cost of revenues
66,435
55,321
133,008
114,695
GROSS PROFIT
194,016
177,297
379,008
345,160
OPERATING EXPENSES:
Research and development
59,929
49,253
121,692
98,730
Selling and marketing
43,475
36,321
91,772
71,907
General and administrative
47,630
51,268
114,748
108,329
Amortization of intangible assets
18,512
17,942
37,024
35,884
Total operating expenses
169,546
154,784
365,236
314,850
OPERATING INCOME
24,470
22,513
13,772
30,310
INTEREST EXPENSE
(17,836
)
(16,602
)
(34,763
)
(33,054
)
INTEREST INCOME
1,220
2,625
3,168
5,092
CHANGE IN FAIR VALUE OF WARRANT LIABILITIES
—
15,963
—
14,378
OTHER (EXPENSE) INCOME—NET
(2,057
)
1,253
(7,154
)
4,191
PRETAX INCOME (LOSS)
5,797
25,752
(24,977
)
20,917
INCOME TAX BENEFIT (PROVISION)
7,163
(4,307
)
20,516
(69
)
NET INCOME (LOSS) INCLUDING NON-CONTROLLING
INTEREST
12,960
21,445
(4,461
)
20,848
LESS: ACCRETION OF REDEEMABLE NON-CONTROLLING INTEREST
—
(1,221
)
(1,276
)
(2,363
)
NET INCOME (LOSS) ATTRIBUTABLE TO CCC INTELLIGENT
SOLUTIONS HOLDINGS INC. COMMON STOCKHOLDERS
$
12,960
$
20,224
$
(5,737
)
$
18,485
Net income (loss) per share attributable to common stockholders:
Basic
$
0.02
$
0.03
$
(0.01
)
$
0.03
Diluted
$
0.02
$
0.03
$
(0.01
)
$
0.03
Weighted-average shares used in computing net income (loss) per share
attributable to common stockholders:
Basic
637,578,033
609,997,114
637,207,185
604,138,246
Diluted
660,622,703
638,367,745
637,207,185
636,990,633
COMPREHENSIVE INCOME (LOSS):
Net income (loss) including non-controlling interest
12,960
21,445
(4,461
)
20,848
Other comprehensive (loss) income—Foreign currency translation
adjustment
53
(16
)
38
(91
)
COMPREHENSIVE INCOME (LOSS) INCLUDING
NON-CONTROLLING INTEREST
13,013
21,429
(4,423
)
20,757
Less: accretion of redeemable non-controlling interest
—
(1,221
)
(1,276
)
(2,363
)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CCC
INTELLIGENT SOLUTIONS HOLDINGS INC. COMMON STOCKHOLDERS
$
13,013
$
20,208
$
(5,699
)
$
18,394
Expand
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
For the Six Months Ended
June 30,
2025
2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income
$
(4,461
)
$
20,848
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization of software, equipment, and property
27,373
19,160
Amortization of intangible assets
45,761
44,541
Deferred income taxes
(20,516
)
(24,738
)
Stock-based compensation
107,023
85,096
Amortization of deferred financing fees
935
927
Amortization of discount on debt
82
125
Change in fair value of derivative instruments
8,381
134
Change in fair value of warrant liabilities
—
(14,378
)
Loss on disposal of software, equipment and property
—
302
Noncash interest expense
763
—
Other
—
68
Changes in:
Accounts receivable—Net
(25,488
)
(18,553
)
Deferred contract costs
(785
)
(1,527
)
Other current assets
2,069
5,860
Deferred contract costs—Non-current
(1,589
)
636
Other assets
(1,078
)
391
Operating lease assets
1,328
1,152
Income taxes
(27,824
)
(5,769
)
Accounts payable
(823
)
4,633
Accrued expenses
(9,231
)
(12,739
)
Operating lease liabilities
(2,307
)
(2,236
)
Deferred revenues
4,838
2,437
Other liabilities
(2,903
)
639
Net cash provided by operating activities
101,548
107,009
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of software, equipment, and property
(30,549
)
(31,224
)
Acquisition of EvolutionIQ, Inc., net of cash acquired
(415,133
)
—
Net cash used in investing activities
(445,682
)
(31,224
)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options
1,934
21,561
Proceeds from employee stock purchase plan
1,650
1,833
Payments for employee taxes withheld upon vesting of equity awards
(44,352
)
(52,722
)
Repurchase of common stock
(172,495
)
—
Proceeds from issuance of long-term debt
225,000
—
Payments of fees associated with the debt modification
(6,565
)
—
Principal payments on long-term debt
(5,005
)
(4,000
)
Net cash provided by (used in) financing activities
167
(33,328
)
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
37
(136
)
NET CHANGE IN CASH AND CASH EQUIVALENTS
(343,930
)
42,321
CASH AND CASH EQUIVALENTS:
Beginning of period
398,983
195,572
End of period
$
55,053
$
237,893
NONCASH INVESTING AND FINANCING ACTIVITIES:
Stock issued related the acquisition of EvolutionIQ, Inc.
$
250,441
$
—
Issuance of promissory note to minority investor of redeemable preferred securities
$
22,955
$
—
Noncash purchases of software, equipment, and property
$
—
$
7,218
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest
$
33,616
$
31,739
Cash paid for income taxes—Net
$
26,628
$
30,567
Expand
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES
(In thousands, except profit margin percentage data)
(Unaudited)
Three Months Ended June 30, Six Months Ended June 30,
(amounts in thousands, except percentages)
2025
2024
2025
2024
Gross Profit
$
194,016
$
177,297
$
379,008
$
345,160
Amortization of acquired technologies
4,368
2,090
8,737
8,657
Stock-based compensation and related employer payroll tax
4,137
2,693
7,238
5,280
Adjusted Gross Profit
$
202,521
$
182,080
$
394,983
$
359,097
Gross Profit Margin
74
%
76
%
74
%
75
%
Adjusted Gross Profit Margin
78
%
78
%
77
%
77
%
Expand
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES
(In thousands)
(Unaudited)
Three Months Ended June 30, Six Months Ended June 30,
(dollar amounts in thousands)
2025
2024
2025
2024
Operating expenses
$
169,546
$
154,784
$
365,236
$
314,850
Amortization of intangible assets
(18,512
)
(17,942
)
(37,024
)
(35,884
)
Stock-based compensation expense and related employer payroll tax
(42,121
)
(38,075
)
(104,939
)
(85,520
)
M&A and integration costs
(348
)
—
(7,967
)
(477
)
Equity transaction costs, including secondary offerings
(165
)
(1,046
)
(452
)
(1,738
)
Litigation (costs) proceeds, net
(125
)
(1,624
)
3,665
(2,200
)
Debt refinancing costs
—
—
(3,119
)
—
Adjusted Operating Expenses
$
108,275
$
96,097
$
215,400
$
189,031
Expand
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES
(In thousands)
(Unaudited)
Three Months Ended June 30, Six Months Ended June 30,
(dollar amounts in thousands)
2025
2024
2025
2024
Operating income
$
24,470
$
22,513
$
13,772
$
30,310
Amortization of intangible assets
18,512
17,942
37,024
35,884
Amortization of acquired technologies—Cost of revenue
4,368
2,090
8,737
8,657
Stock-based compensation expense and related employer payroll tax
46,258
40,768
112,177
90,800
M&A and integration costs
348
—
7,967
477
Equity transaction costs, including secondary offerings
165
1,046
452
1,738
Litigation costs (proceeds), net
125
1,624
(3,665
)
2,200
Debt refinancing costs
—
—
3,119
—
Adjusted Operating Income
$
94,246
$
85,983
$
179,583
$
170,066
Expand
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES
(In thousands, except for EBITDA margin percentage data)
(Unaudited)
Three Months Ended June 30, Six Months Ended June 30,
(dollar amounts in thousands)
2025
2024
2025
2024
Net income (loss)
$
12,960
$
21,445
$
(4,461
)
$
20,848
Interest expense
17,836
16,602
34,763
33,054
Interest income
(1,220
)
(2,625
)
(3,168
)
(5,092
)
Income tax provision (benefit)
(7,163
)
4,307
(20,516
)
69
Amortization of intangible assets
18,512
17,942
37,024
35,884
Amortization of acquired technologies—Cost of revenue
4,368
2,090
8,737
8,657
Depreciation and amortization of software, equipment and property
2,231
2,299
4,495
4,164
Depreciation and amortization of software, equipment and property—Cost of revenue
11,548
7,418
22,878
14,996
Stock-based compensation expense and related employer payroll tax
46,258
40,768
112,177
90,800
M&A and integration costs
348
—
7,967
477
Equity transaction costs, including secondary offerings
165
1,046
452
1,738
Litigation costs (proceeds), net
125
1,624
(3,665
)
2,200
Debt refinancing costs
—
—
3,119
—
Change in fair value of derivative instruments
2,640
852
8,381
134
Income from derivative instruments
(492
)
(2,008
)
(989
)
(4,039
)
Change in fair value of warrant liabilities
—
(15,963
)
—
(14,378
)
Adjusted EBITDA
$
108,116
$
95,797
$
207,194
$
189,512
Adjusted EBITDA Margin
42
%
41
%
40
%
40
%
Expand
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES
(In thousands, except share and per share data)
(Unaudited)
Three Months Ended June 30, Six Months Ended June 30,
(dollar amounts in thousands)
2025
2024
2025
2024
Net income (loss)
$
12,960
$
21,445
$
(4,461
)
$
20,848
Amortization of intangible assets
18,512
17,942
37,024
35,884
Amortization of acquired technologies—Cost of revenue
4,368
2,090
8,737
8,657
Stock-based compensation expense and related employer payroll tax
46,258
40,768
112,177
90,800
M&A and integration costs
348
—
7,967
477
Equity transaction costs, including secondary offerings
165
1,046
452
1,738
Litigation costs (proceeds), net
125
1,624
(3,665
)
2,200
Debt refinancing costs
—
—
3,119
—
Change in fair value of derivative instruments
2,640
852
8,381
134
Change in fair value of warrant liabilities
—
(15,963
)
—
(14,378
)
Tax effect of adjustments
(26,521
)
(13,618
)
(56,394
)
(35,384
)
Adjusted Net Income
$
58,855
$
56,186
$
113,337
$
110,976
Adjusted Net Income Per Share attributable to common stockholders:
Basic
$
0.09
$
0.09
$
0.18
$
0.18
Diluted
$
0.09
$
0.09
$
0.17
$
0.17
Weighted average shares outstanding:
Basic
637,578,033
609,997,114
637,207,185
604,138,246
Expand
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"We are moving with speed to capture the explosion we're seeing in the voice and conversational AI industry, where customers across sectors are realizing the tremendous value they can achieve by adopting our market-leading solutions." Business Highlights Agentic AI: Unveiled Amelia 7, and now 15 large enterprise customers are migrating onto this complete AI agent platform, which integrates Polaris, SoundHound's category leading speech foundation model. Voice Commerce: Advancing multiple voice commerce pilots with large automotive brands in Europe and the USA, both existing customers and new car brands, with participation from prominent national and global merchants for ordering food, coffee, parking, and more. Restaurants: Breakthrough quarter with numerous wins, renewals, expansions, and cross-selling. Notable cross-selling of SoundHound's Amelia enterprise platform to one of SoundHound's marquee restaurant customers to provide customer service support; new wins with Red Lobster, Peter Piper Pizza, Applebee's | IHOP; successful renewal with MOD Pizza; expansion with Chipotle, Firehouse Subs, Habit Burger, McAllister's Deli, Beef O'Brady's, and Casey's. Upsold Smart Answering to Red Robin, an existing phone ordering customer. Automotive: Significant new win in China for our voice assistant to be integrated in a major OEM with vehicles spanning China and worldwide, including the development of multiple new languages. Continued expansion with KIA in the Indian market, with increased momentum from India-based OEMs. SoundHound's LLM-enhanced Chat AI product rolled out in the North American market across three major brands. Healthcare: Added customers including Primary Health Solutions, and one of the world's largest healthcare companies. We also deployed our solutions with healthcare system Allina Health. Retail: Signed two multi-hundred unit personal care companies, and a home services company with over 500 locations to deploy Smart Answering. The solution also continues to attract additional fitness chains and expand further into existing brands. Financial Services: With 7 of the top 10 global financial institutions as customers, the company either renewed or had upsells with 4 of them. This included: expanding into new lines of business, penetrating across dozens of business units and doubling automated conversation volume from the previous year. The company is also expanding its presence in the regional bank and credit union market, most recently partnering with a leading credit union with operations in multiple states. Channel Partners: Expanded relationship with EXL to deliver Agentic and voice AI integrations across various verticals Entered into a partnership with Par Technologies to extend SoundHound's reach across Par's extensive portfolio of restaurant chains and their franchisees globally Launched a strategic partnership with global QSR technology leader Acrelec to accelerate AI adoption in restaurants globally Added a sales partnership with AVANT Communications to accelerate the adoption of SoundHound AI agents across enterprise markets Doubled the volume of interactions with a long standing partner that specializes in CRM, AI and workforce engagement management Second Quarter 2025 Financial Measures1 Three Months Ended (thousands, unless otherwise noted) June 30, 2025 June 30, 2024 Change Revenues $ 42,683 $ 13,462 217% GAAP gross profit $ 16,662 $ 8,482 96% GAAP gross margin 39.0% 63.0% (24.0)pp Non-GAAP gross profit $ 24,921 $ 8,951 178% Non-GAAP gross margin 58.4% 66.5% (8.1)pp GAAP operating loss2 $ (78,051) $ (21,985) (255)% Non-GAAP adjusted EBITDA $ (14,300) $ (13,848) (3)% GAAP net loss2 $ (74,724) $ (37,322) (100)% Non-GAAP net loss $ (11,863) $ (14,894) 20% GAAP net loss per share2 $ (0.19) $ (0.11) $ (0.08) Non-GAAP net loss per share $ (0.03) $ (0.04) $ 0.01 1) Please see tables below for a reconciliation from GAAP to non-GAAP. 2) GAAP-only operating loss includes a significant impact from the calculated fair value of contingent acquisition liabilities where future earn-out shares are marked-to-market on a quarterly basis, and with the increase in stock price compared to the previous quarter the loss associated with this item was $31 million in the second quarter. Non-GAAP measures exclude this non-operating/non-cash impact. Liquidity and Cash Flows The company's total cash and cash equivalents was $230 million at June 30, 2025, with no debt. Condensed Cash Flow Statement Six Months Ended (thousands) June 30, 2025 June 30, 2024 Cash flows: Net cash used in operating activities $ (43,682) $ (40,440) Net cash used in investing activities $ (354) $ (4,788) Net cash provided by financing activities $ 76,606 $ 137,030 Effects of exchange rate changes on cash $ (210) $ 130 Net change in cash and cash equivalents $ 32,360 $ 91,932 Business Outlook SoundHound is raising its full year 2025 revenue outlook and now expects it to be in a range of $160 - $178 million. Additional Information For more information please see the company's SEC filings which can be obtained on the company's website at The financial statements will be posted on the website, and will be included when the company files its 8-K. The financial data presented in this press release should be considered preliminary until the company files its 10-Q. Conference Call and Webcast Keyvan Mohajer, Co-Founder and CEO, and Nitesh Sharan, CFO will host a live audio conference call and webcast today at 2:00 p.m. Pacific Time/5:00 p.m. Eastern Time. A live webcast and replay will also be accessible at About SoundHound AI SoundHound (Nasdaq: SOUN), a global leader in voice and conversational intelligence, delivers AI solutions that allow businesses to offer superior experiences to their customers. Built on proprietary technology, SoundHound's voice AI delivers best-in-class speed and accuracy in numerous languages to product creators and service providers across retail, financial services, healthcare, automotive, smart devices, and restaurants. The company's various groundbreaking AI-driven products include Smart Answering, Smart Ordering, Dynamic Drive-Thru, and the Amelia Platform, which powers AI Agents for enterprise. In addition, SoundHound Chat AI, a powerful voice assistant with integrated Generative AI, and Autonomics, a category-leading operations platform that automates IT processes, have allowed SoundHound to power millions of products and services, and processes billions of interactions each year for world class businesses. For more information, visit: Forward Looking Statements This press release contains forward-looking statements, which are not historical facts, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. These forward-looking statements include, but are not limited to, statements concerning our expected financial performance, our ability to implement our business strategy and anticipated business and operations, and guidance for financial results for 2025. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. Our actual results may differ materially from those expressed or implied by these forward-looking statements as a result of risks and uncertainties impacting SoundHound's business including, our ability to successfully launch and commercialize new products and services and derive significant revenue, our market opportunity and our ability to acquire new customers and retain existing customers, unexpected costs, charges or expenses resulting from our 2024 acquisitions, the ability of our 2024 acquisitions to be accretive on the company's financial results, and those other factors described in our risk factors set forth in our filings with the Securities and Exchange Commission from time to time, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We do not intend to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Non-GAAP Measures of Financial Performance To supplement the company's financial statements, which are presented on the basis of U.S. generally accepted accounting principles (GAAP), the following non-GAAP measures of financial performance are included in this release: non-GAAP gross profit, non-GAAP gross margin, adjusted EBITDA, non-GAAP net loss and non-GAAP earnings per share. The company believes that providing this non-GAAP information in addition to the GAAP financial information allows investors to view the financial results in the way the company views its operating results. The company also believes that providing this information allows investors to not only better understand the company's financial performance, but also, better evaluate the information used by management to evaluate and measure such performance. As such, the company believes that disclosing non-GAAP financial measures to the readers of its financial statements provides the reader with useful supplemental information that allows for greater transparency in the review of the company's financial and operational performance. The company defines its non-GAAP measures by excluding certain items: The company arrives at non-GAAP gross profit and non-GAAP gross margin by excluding (i) amortization of intangibles (including acquired intangible assets) and (ii) stock-based compensation. The company arrives at adjusted EBITDA by excluding (i) total interest and other income/(expense), net, (ii) loss on early extinguishment of debt, (iii) income taxes, (iv) depreciation and amortization expense (including acquired intangible assets), (v) stock-based compensation, (vi) change in fair value of contingent acquisition liabilities, and (vii) acquisition-related costs. The company arrives at non-GAAP net loss and non-GAAP net loss per share by excluding (i) depreciation and amortization expense (including acquired intangible assets), (ii) stock-based compensation, (iii) loss on early extinguishment of debt, (iv) change in fair value of contingent acquisition liabilities, (v) change in fair value of derivative, and (vi) acquisition-related costs. Reconciliations of GAAP to these adjusted non-GAAP financial measures are included in the tables below. When analyzing the company's operating results, investors should not consider non-GAAP measures as substitutes for the comparable financial measures prepared in accordance with GAAP. To the extent that the company presents any forward-looking non-GAAP financial measures, the company does not present a quantitative reconciliation of such measures to the most directly comparable GAAP financial measure (or otherwise present such forward-looking GAAP measures) because it is impractical to do so. Second Quarter Reconciliation of GAAP Gross Profit to Non-GAAP Gross Profit and GAAP Gross Margin to Non-GAAP Gross Margin Three Months Ended (thousands, unless otherwise noted) June 30, 2025 June 30, 2024 GAAP gross profit1 $ 16,662 $ 8,482 Adjustments: Amortization of Intangibles 4,084 362 Stock-based compensation 4,175 107 Non-GAAP gross profit $ 24,921 $ 8,951 GAAP gross margin 39.0% 63.0% Non-GAAP gross margin 58.4% 66.5% 1) GAAP gross profit is calculated by subtracting the cost of revenues from revenues. Second Quarter Reconciliation of GAAP Net Loss to Non-GAAP Adjusted EBITDA Three Months Ended (thousands) June 30, 2025 June 30, 2024 GAAP net loss $ (74,724) $ (37,322) Adjustments: Total other income (expense), net1 (4,583) (888) Loss on early extinguishment of debt - 15,587 Income taxes 1,256 638 Depreciation and amortization 7,774 1,280 Stock-based compensation2 23,810 7,253 Change in fair value of contingent acquisition liabilities 31,359 (1,082) Acquisition-related expenses 808 686 Non-GAAP adjusted EBITDA $ (14,300) $ (13,848) 1) Includes other income, net of $4.8 and $5.0 million for the three months ended June 30, 2025 and 2024, respectively. 2) Included in stock-based compensation is a one-time impact of $3.8 million related to accelerated vesting of the Restricted Stock Agreement as part of our integration plan of SYNQ3. Second Quarter Reconciliation of GAAP Net Loss to Non-GAAP Net Loss and Non-GAAP Net Loss Per Share Three Months Ended (thousands, unless otherwise noted) June 30, 2025 June 30, 2024 GAAP net loss attributable to SoundHound common shareholders $ (74,724) $ (37,395) Adjustments: Depreciation and amortization 7,774 1,280 Stock-based compensation1 23,810 7,253 Loss on early extinguishment of debt - 15,587 Change in fair value of contingent acquisition liabilities 31,359 (1,082) Change in fair value of derivative (890) - Gain on bargain purchase - (1,223) Acquisition-related expenses 808 686 Non-GAAP net loss $ (11,863) $ (14,894) GAAP net loss per share2 $ (0.19) $ (0.11) Adjustments 0.16 0.07 Non-GAAP net loss per share2 $ (0.03) $ (0.04) 1) Included in stock-based compensation is a one-time impact of $3.8 million related to accelerated vesting of the Restricted Stock Agreement as part of our integration plan of SYNQ3. 2) Weighted average common shares outstanding (basic) for the three months ended June 30, 2025 and 2024 were 400,124,499 and 331,830,608, respectively. View source version on Contacts Investors: Scott Smith408-724-1498IR@ Media: Fiona McEvoy415-610-6590PR@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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ROSEN, TOP RANKED GLOBAL COUNSEL, Encourages Capricor Therapeutics, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action
NEW YORK, Aug. 07, 2025 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Capricor Therapeutics, Inc. (NASDAQ: CAPR) between October 9, 2024 and July 10, 2025, both dates inclusive (the 'Class Period'), of the important September 15, 2025 lead plaintiff deadline. SO WHAT: If you purchased Capricor securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Capricor class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 15, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants provided investors with material information concerning deramiocel, Capricor's lead cell therapy candidate drug for the treatment of cardiomyopathy associated with Duchenne muscular dystrophy (DMD). Defendants' statements included, among other things, Capricor's ability to obtain a Biologics License Application (BLA) for deramiocel from the U.S. Food and Drug Administration (FDA). Further, defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating false and misleading statements and/or concealing material adverse facts concerning its four-year safety and efficacy data from its Phase 2 HOPE-2 trial study of deramiocel. The lawsuit alleges this caused shareholders to purchase Capricor's securities at artificially inflated prices. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Capricor class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. ——————————- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected]
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Etoiles Capital Group Co., Ltd Announces Pricing of US$5.6 million Initial Public Offering
HONG KONG, Aug. 07, 2025 (GLOBE NEWSWIRE) — Etoiles Capital Group Co., Ltd (Nasdaq: EFTY), a Hong Kong-headquartered financial services firm, today priced its initial public offering (the 'Offering') of 1,400,000 Class A ordinary shares at $4.00 per share. The Class A ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on August 8, 2025 under the ticker symbol 'EFTY.' The Company expects to receive aggregate gross proceeds of US$5.6 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 210,000 Class A ordinary shares at the public offering price, less underwriting discounts. The Offering is expected to close on or about August 11, 2025, subject to the satisfaction of customary closing conditions. Proceeds from the Offering will be used for business expansion, technology infrastructure, strategic marketing, and general corporate purposes. The Offering was conducted on a firm commitment basis. Prime Number Capital, LLC acted as representative underwriter and sole book- runner for the Offering. Loeb & Loeb LLP acted as the U.S. counsel to the Company, Ogier acted as the Cayman Islands counsel to the Company, and Ye & Associates, P.C. acted as the U.S. counsel to the underwriting syndicate in connection with the Offering. A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission ('SEC') (File Number: 333-287302) and was declared effective by the SEC on August 7, 2025. The Offering was made only by means of a prospectus, forming a part of the registration statement. A final prospectus relating to the Offering was filed with the SEC on August 7, 2025, which may be obtained from Prime Number Capital, LLC, 12 E 49 St, Floor 27, New York, NY 10017, Attention: Shenghui Yang by email at [email protected], or by calling +1(347) 329-1575. In addition, copies of the prospectus relating to the Offering may be obtained via the SEC's website at This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall there be any offer, solicitation or sale of any of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Forward-Looking Statements Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as 'approximates,' 'assesses,' 'believes,' 'hopes,' 'expects,' 'anticipates,' 'estimates,' 'projects,' 'intends,' 'plans,' 'will,' 'would,' 'should,' 'could,' 'may' or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. About Etoiles Capital Group Co., Ltd Etoiles Capital Group Co., Ltd (Nasdaq: EFTY) is a Cayman Islands holding company operating through its Hong Kong subsidiary, Etoiles Consultancy Limited. The Company provides comprehensive financial advisory, capital markets services, and integrated solutions—including corporate financing, initial public offering consulting, and investor relations—to clients navigating global capital markets. Contacts Issuer InquiriesEtoiles Capital Group Co., LtdRoom 1109, 11/F, Tai Yau Building181 Johnston Road, Wanchai, Hong Kong Tel: +852 2398 8699 | Email: [email protected]
